Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
First of all sad to see this board after the last RNS. It shouldn't surprise any of us seasoned investors as it happens on every share where news does not necessarily go the way people want it to, hoping to or expecting to. Hopefully over the coming weeks we can get back to some reasoned board.
Secondly the drilling at Tai 2 was done in quick succession. Many on this board seemed to think it would be weeks before news, so I think it goes to show many don't have a clue.
Were the company expecting any commercial find from Tai 2 it seems unlikely. There seems plenty in the RNS and from the interview they have got from it to move to phase 2.
The end of the RNS outlines shallow targets for exploration, possibly now and through rainy season and deeper drills in 2022 from seismic needing to be carried out and bigger rig.
Therefore plenty of activity and plenty for shareholders to look forward to.
Sometimes you need to disconnect the sp activity to the company as hard as it is when your average is a lot higher than the current sp.
For me the company have been excellent for most, some of the communication could be a little clearer.
I strongly believe the resource and commercial viability is there, still have full faith in DM and team based on track records and the upside remains massive against any risk.
All positive from what I'm reading, was there another RNS, haha. Drilling complete by end of September, all good.
I think some of the Monday predictions at 32p etc are ridiculous however...
There could be an update by this time next week, we saw it last time.
I think DM remains confident and will continue to be so and update as and when new information is known. I believe this as this has been 5 years in the making and these guys are not fresh out the water. The plan remains the same, make it happen!
I think they firmly believe it's there for the taking it's simply finding a way to make it happen, which they will.
Complete over reaction to failed drill, as the data will and probably is proving invaluable at Tai 2. So hopefully lessons learnt by all.
I don't think 25p is unrealistic by Friday next week without news, who knows with a positive update.
More positive news. Shaping up well.
About 50% of shares are not in public hands, so explains why this moves so fast.
Lots to look forward to here including a lot of value yet to be realised.
If you go back to the June RNS, DM stated this:
"We are very excited to have commenced exploration drilling, continuing the advancement of the world-class Rukwa project. The exploration programme is the culmination of five years of dedicated work with three holes testing three different styles of trap. Each well will take roughly one month to complete with lessons learnt from the first well applied to refine and de-risk drilling of subsequent wells."
Plan was always 3-4 drills with lessons learnt each time. One month per drill. First one has taken a month longer due to issues encountered, but still on course and plenty of time to keep going.
You can bet there will be an RNS before too long as they've always stated their exploration was to be aggressive. This was also supported at the last subscription.
They've been a bit unlucky so far, however, these guys know what they're doing and will know how to move things forward for best opportunity of success and value for shareholders.